Oireachtas Joint and Select Committees

Wednesday, 24 May 2017

Joint Oireachtas Committee on Transport, Tourism and Sport

Pilot Training College of Ireland: Discussion

1:30 pm

Mr. Brian Kealy:

No. The issue was that the accounts it looked at were the Shemburn accounts, those of the parent company. That company had net assets of €1 million. When we look behind it, part of the assets were made up of an investment in the pilot training college. Those accounts were not qualified. If, however, the IAA had looked at the accounts of the company that it was actually giving the approval to, that company's accounts were heavily qualified.

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